$3,078,510township investment in ERTH Corporation at December 31, 2024
The township owns 6.77% of ERTH Corporation, an Ontario company. In the statements the investment is $3,078,510: shares carried at $2,058,510 and a loan to ERTH of $1,020,000. The statements say the loan is unsecured, bears interest at 7.25%, has no set end date, and that no principal repayments are expected in the next twelve months. "Interest and other income from ERTH Corporation" was $229,239 in 2023 and $48,742 in 2024. The statements explain that in 2024 the township stopped using the equity method for this holding and began recording it at cost.
$40,000budgeted for general administration legal fees in 2026, against $7,808 spent in 2025
The 2026 operating budget puts "Professional Services: Legal" for general administration at $40,000. It was budgeted at $15,000 in 2025 and $7,808 was actually spent. Consulting on the same page goes from a $10,000 budget (and $23,454 spent) to $25,000. At the same time, legal lines in other parts of the budget (council, fire and by-law services, the medical centre, cemeteries) go from small amounts to nothing for 2026, which suggests legal costs may now be collected on one line. The statements also say legal claims against the township are outstanding and no amount has been set aside for them.
+12%town property tax, 2023 to 2024
In 2024, Norwich collected $1.2M more in its own property tax than in 2023. That is a 12% jump, while prices went up about 2.4%. Only 11 of 90 similar towns raised theirs by more. Almost all of it came from a higher tax rate (up 10% for homes); the value of homes on the tax roll grew only 0.2%.
October 14, 2025date of the auditors' report on the 2024 statements, the latest posted
The auditors' report on the 2024 statements is dated October 14, 2025, and the report on the 2023 statements is dated August 29, 2024. On October 5, 2026, the township's Financial Services page listed audited statements for 2017 to 2024 and no set for 2025. Both opinions say the statements "present fairly" the township's position. The township's budget is adopted in February, so a council deciding the next budget may not have the latest audited result in hand.
$3,108,418drainage receivable at December 31, 2024, not yet collected from landowners
The statements split the township's accumulated surplus into parts. The part called current funds (day-to-day money) was negative $438,031 at the end of 2024 and negative $501,177 a year earlier. The reserve set aside for operating purposes fell from $1,531,469 to $1,277,888. Meanwhile the township had $3,108,418 owing from landowners for drain work that had not yet been billed or was added to tax bills. The statements say drain costs can pile up for five years before they are billed. Cash fell from $9,235,895 to $8,296,936 in 2024, in a year with an annual surplus of $3,471,059, because $4,493,454 went on buying and building assets.